Carbon Pulse

European carbon prices skyrocketed to a new 10-year high near €27 on Wednesday, but a poll of analysts showed a consensus view that EUAs will come back down to earth in the near term.

Compliance entities in the WCI cap-and-trade programme appear to be cutting their long positions in the secondary market as California Carbon Allowance (CCA) prices have jumped over the past six weeks, according to US Commodities Futures Trading Commission (CFTC) data.

New Zealand has made a seasoned carbon market negotiator its new climate change ambassador.

South Korea sold all 1.59 million KAUs on offer at Wednesday’s auction, with the sale clearing 4.3% below the day’s closing price in the secondary market.

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Ontario will release 2017 emissions data for entities covered by the Canadian province’s now-defunct cap-and-trade programme in the coming weeks, an environmental ministry spokesperson confirmed to Carbon Pulse.

The Canadian government announced Tuesday the creation of an independent climate institute to deliver advice and analysis on clean growth and emissions reduction strategies, including carbon pricing.

The northeast US RGGI carbon market will auction off more than 13.2 million carbon allowances on June 5, the market’s regulator said Tuesday.

EUAs settled at their highest for over a decade on Tuesday as stronger gas prices favoured bulls in a late surge that could see carbon clear 2018's peak tomorrow.

The European Commission proposed Tuesday that EU members drop their long-standing veto power over energy taxes to help ensure the legacy of its energy union and possibly one day enable an EU-wide carbon tax.

Another investment bank has cut its medium-term estimates for EU carbon prices, though it warned that a looming shortage in allowances will be worse than it anticipated.

We are recruiting ambitious graduates to join our vibrant and growing Oxford office, working at the cutting edge of sustainability with high profile partners and clients.

New Zealand’s government-appointed interim Climate Change Commission will recommend bringing nitrous oxide emissions from fertilisers into the country's ETS while imposing a carbon levy on farming emissions from other sources, its chairman said Tuesday.

EU carbon settled slightly lower on Monday after bouncing around in a wide €1 range, as sellers maintained pressure on prices while buyers stepped in at every dip.

Oil major Shell will spend $300 million over the next three years to help meet its self-imposed short-term emission target by offering drivers the chance to offset their carbon footprint.

Ohio lawmakers are considering a bill to create a new fund to benefit the state’s uneconomical nuclear energy plants, but some believe the proposal could simultaneously undermine the state’s Renewable Portfolio Standard (RPS).

Six additional general WCI market participant accounts were opened in California during the first quarter, including a New York-based fund that sees California Carbon Allowance (CCA) futures as underpriced.

Shell Energy traded the first California Carbon Offset (CCO) without any invalidation risk on the ICE contract’s first listing day on Monday, a move that could bolster credit transparency and activity in the WCI cap-and-trade programme.

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Bank of America Merrill Lynch (BAML) has reversed its bullish view on EU carbon amid falling natural gas prices, with growing LNG supplies expected to exert further pressure.